February, 2020

• 10 February

  Palm oil giant says blow to China, India sales is ‘temporary’

  

  Bloomberg The double-whammy to palm oil demand from a trade spat with India and the coronavirus in China is likely to prove only temporary, according to FGV Holdings Bhd, one of the world’s largest producers. That’s because supplies are low this quarter, and food and fuel demand is set to stay robust over the long term, according to Chief Executive ...

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• 10 February

  China outbreak to spur higher prices as farm links disrupted

  

  Bloomberg China’s consumer prices rose the fastest in more than eight years last month, with the outbreak of the coronavirus and subsequent shutdowns of transport links across the country making further gains in the coming months likely. Consumer prices rose 5.4%, with food prices jumping the most since 2008 in January. Even before the coronavirus, prices were likely to have ...

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• 10 February

  Chinese carmakers are now making face masks

  

  Bloomberg A shortage of face masks has prompted Chinese companies from car manufacturers to energy providers to start making their own to help fight the coronavirus. Auto companies including BYD Co have reconfigured production lines to churn out masks that can help block particles and germs, with petroleum giant Sinopec and iPhone assembler Foxconn joining the fray. Some are also ...

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• 10 February

  Jaguar Land Rover warns China virus could disrupt supply chain

  

  Bloomberg Jaguar Land Rover announced that its supply chains outside China could be impacted by the coronavirus outbreak in an updated presentation to investors. The luxury carmaker wrote that it expects the virus to affect its fourth quarter but that it’s too early to quantify. Though the company issued an update to add that if disruption continues, supply chains outside ...

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• 10 February

  India lifts export ban on ‘face masks’

  Bloomberg India will again allow shipments of surgical and disposable masks and some gloves, about a week after placing them on a list of banned export items. However, exports of gloves made from nitrile rubber, a synthetic variety generally known as NBR, and masks other than two and three-ply, will continue to be restricted, according to a notification by the ...

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• 10 February

  Ghosn hires Michael Ovitz for TV, film deals

  

  Bloomberg Hollywood producers eager to dramatise the life of Carlos Ghosn, the former Nissan Motor Co chairman who staged a cinematic escape from Japan in December, are likely to get a simple response: call my agent. Not just any agent. Ghosn is working with Michael Ovitz, the founder of Creative Artists Agency and former president of Walt Disney Co, to ...

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• 10 February

  Mahindra shares all set for biggest drop in ten years

  

  Bloomberg Mahindra & Mahindra Ltd shares headed for their steepest decline in more than a decade after the Indian automaker reported a surprise drop in its December-quarter earnings. The stock tumbled 7.2% to 528.2 rupees at 3:21 pm in Mumbai, set for the steepest fall since August 2009, and the worst performance on the 16-member gauge of automakers. Other companies ...

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• 10 February

  Wind giants in Germany are not so keen on market rates

  

  Bloomberg The first time Germany auctioned offshore wind projects, developers were happy to forgo any subsidies, confident the technology was robust enough to turn a profit unaided. Now, they’re not nearly so sure. Germany’s offshore wind giants now are looking at a UK programme that would ensure they get paid enough for their power, no matter what wholesale prices are ...

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• 10 February

  Are there virtues to a stagnant economy?

  

  Grant President Trump some bragging rights. After all, most economic news has recently favoured Trump, including the 225,000 payroll jobs created in January. Naturally, he’s going to take credit if he can. Similarly blessed, a Democratic president would surely do the same. In his State of the Union address last week, Trump gushed self-congratulation. “Incomes are soaring, poverty is plummeting,” ...

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• 10 February

  Coronavirus could be ‘good’ for stocks

  

  It seems inconceivable that the coronavirus outbreak, which killed more than 811 people and shut down two-thirds of China’s economy, could be bullish for stocks. Yet Shenzhen’s private sector-heavy ChiNext Index not only brushed away a selloff, but also hit a three-year high on February 6. The most obvious explanation? This epidemic is giving policymakers the opportunity to correct past ...

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